SYSTEMS AND METHODS FOR CLIENT SCREENING IN THE FINANCIAL SERVICES INDUSTRY

• US 20080040610A1
• Filed: 06/01/2006
• Published: 02/14/2008
• Est. Priority Date: 06/01/2006
• Status: Active Grant

• Current Assignee: Broadridge Securities Processing Solutions LLC (Broadridge Financial Solutions Incorporated)
• Original Assignee: Investigo Corp. (Broadridge Financial Solutions Incorporated)
• Inventors: Fergusson, Scott
• Granted Patent: US 8,606,669 B2
• Time in Patent Office: Days
• US Class Current: 713/182
• CPC Class Codes: G06F 16/23 Updating
• CPC Class Codes: G06F 16/2379 Updates performed during online database operations; commit processing
• CPC Class Codes: G06F 16/25 Integrating or interfacing systems involving database management systems
• CPC Class Codes: G06F 16/9535 Search customisation based on user profiles and personalisation
• CPC Class Codes: G06F 21/30 Authentication, i.e. establishing the identity or authorisation of security principals
• CPC Class Codes: G06F 21/6245 Protecting personal data, e.g. for financial or medical purposes
• CPC Class Codes: G06Q 20/4014 Identity check for transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 50/265 Personal security, identity or safety
• CPC Class Codes: H04L 63/0884 by delegation of authentication, e.g. a proxy authenticates an entity to be authenticated on behalf of this entity vis-à-vis an authentication entity
• CPC Class Codes: H04L 63/1441 Countermeasures against malicious traffic countermeasures against attacks on cryptographic mechanisms H04L9/002
• CPC Class Codes: H04L 63/20 for managing network security; network security policies in general filtering policies H04L63/0227
• CPC Class Codes: H04L 67/56 Provisioning of proxy services store-and-forward switching systems in data switching networks H04L12/54
• CPC Class Codes: H04L 67/562 Brokering proxy services
• CPC Class Codes: Y10S 902/05 And to verify identity of user*

Abstract

Systems, methods, and interfaces for screening clients for security compliance with a Customer Identification Program are disclosed. An illustrative system for screening clients can include a client screening engine adapted to filter client account data based on one or more filtering criteria, a database adapted to store client account information and verification status information, and a graphical user interface adapted to selectively display client account information and verification status information for one or more selected clients on a screen. The system can be used to submit identity verification requests to Customer Identification Program vendors for only those clients whose identity have not been verified.

Claims

1. A system for screening clients for security compliance, the system comprising:

a client screening engine adapted to filter client account data based on one or more filtering criteria;

a database adapted to store client account information and verification status information; and

a graphical user interface adapted to selectively display client account information and verification status information for one or more selected clients on a screen.

2. The system of claim 1, wherein said client screening engine is adapted to automatically update the database each time a new account is opened for a new or existing client.

3. The system of claim 1, wherein said client screening engine is adapted to automatically update the database when a name and/or address change is received for at least one client.

4. The system of claim 1, wherein said client screening engine is adapted to associate client account data received from the account custodian with account data stored within the database using a unique client identification tag.

5. The system of claim 1, wherein said graphical user interface includes a verification status field.

6. The system of claim 1, wherein said graphical user interface includes a means for filtering client account data received from the account custodian based on one or more filtering criteria and displaying a filtered subset of the client account data on the screen.

7. The system of claim 1, wherein said graphical user interface includes an account type field.

8. The system of claim 1, wherein said graphical user interface includes an action-to-take field.

9. The system of claim 8, wherein said action-to-take field includes a selection means for submitting client identifying information for verification, a selection means for bypassing verification of a client'"'"'s identity, and a selection means for suppressing client identifying information for verification.

10. The system of claim 1, wherein said system is a computer software system.

11. A method of screening clients for security compliance, the method comprising the steps of:

initiating a client screening request and receiving client account data for one or more new or existing clients from an account custodian;

associating the account data received from the account custodian with a unique client identification tag for each client;

identifying for each client whether the client'"'"'s identification has been previously verified;

filtering the client account data received from the account custodian based on one or more filtering criteria and outputting a filtered subset of the client account data for review by a user;

outputting customer identifying information of only unverified clients to a customer identification program vendor for verification of each client'"'"'s identity;

receiving the verification status of each submitted client from the customer identification program vendor; and

notifying the user of the verification status of one or more submitted clients.

12. The method of claim 11, wherein said step of initiating a client screening request is performed automatically each time a new account is opened for a new or existing client.

13. The method of claim 11, wherein said step of initiating a client screening request is performed automatically when a name and/or address change is received for at least one client.

14. The method of claim 11, wherein said step of initiating a client screening request is performed automatically when a user request is received from a representative or supervisor.

15. The method of claim 11, wherein said step of associating the client account data received from the account custodian includes the step of comparing the account data against a database containing previously stored account data of one or more clients.

16. The method of claim 11, wherein said step of filtering client account data received from the account custodian includes associating one or more accounts belonging to a particular client with a unique client identification tag.

17. The method of claim 16, wherein said client identification tag includes a social security number.

18. The method of claim 16, wherein said client identification tag includes a customer identification number.

19. The method of claim 11, wherein said step of filtering client account data received from the account custodian includes the step of filtering the client account data based on address type.

20. The method of claim 11, wherein said step of filtering client account data received from the account custodian includes the step of filtering client account data based on any clients previously verified by the customer identification program vendor.

21. The method of claim 11, wherein said step of filtering client account data received from the account custodian includes the step of determining whether one or more client accounts fall within a verification exception.

22. The method of claim 11, wherein said step of notifying the user of the verification status of one or more submitted clients includes the step of generating a report on a display screen.

23. The method of claim 11, further comprising the step of dynamically storing client account information and verification status information within a database after said step of initiating a client screening request and receiving account data for one or more new or existing clients from an account custodian.

24. The method of claim 11, further comprising the step of prompting the user to enter more client information for an unverified client once the verification status is received from the customer identification program vendor.

25. A graphical user interface for use in screening clients for compliance with a customer identification program, the graphical user interface comprising:

a submission screen for selectively submitting client account data to a customer identification program vendor, the submission screen including a means for filtering client account data using one or more filtering criteria; and

a notification screen for notifying a user of the verification status of one or more clients submitted for verification.

26. The graphical user interface of claim 25, wherein said submission screen includes a verification status field.

27. The graphical user interface of claim 25, wherein said means for filtering client account data received from the account custodian includes a filtering field.

28. The graphical user interface of claim 25, wherein said submission screen includes an account type field.

29. The graphical user interface of claim 28, wherein said account type field includes a means for selecting whether a client address field is a residential or business address.

30. The graphical user interface of claim 25, wherein said submission screen includes an action-to-take field.

31. The graphical user interface of claim 30, wherein said action-to-take field includes a selection means for submitting client identifying information for verification, a selection means for bypassing verification of a client'"'"'s identity, and a selection means for suppressing client identifying information for verification.